Missfresh Ltd - MF STOCK NEWS

Missfresh Limited (NASDAQ: MF) reported significant growth in on-demand retail sales during the 2022 Chinese New Year holiday, with gross merchandise value doubling compared to pre-holiday levels. This surge was attributed to COVID-19 prompting consumers to opt for online grocery shopping, increasing demand for Ready-to-Cook, Ready-to-Heat, and Ready-to-Eat products, which saw a 2.7x sales increase. Additionally, the sales of fresh cut flowers and high-end Baijiu brands also experienced substantial growth. Missfresh continues to innovate in the neighborhood retail market, aiming to enhance product quality and service diversity.

Missfresh Limited (NASDAQ: MF) has launched express food delivery and Convenience Go smart vending machines in Taizicheng Snow Town, Zhangjiakou, for the 2022 Beijing Winter Olympics support staff. After three months of preparation involving over 100 staff, these services aim to meet the fresh food needs of volunteers and security personnel. With 350+ SKUs available, the smart vending machines, operational in 109 locations, offer contactless shopping to enhance safety during the pandemic. This initiative is vital as 49 of the 51 gold medals awarded in the Zhangjiakou zone will be distributed in Taizicheng.

Missfresh Limited (NASDAQ: MF) announced a strategic partnership with Ocean Engine, expanding its presence on Douyin with a livestream grocery shopping service offering delivery in under one hour in Beijing and Shanghai. This collaboration enhances Missfresh's on-demand Distributed Mini Warehouse model, which enables orders to be fulfilled rapidly from local warehouses. The initiative targets the growing demand for instant grocery delivery, particularly among younger consumers. Missfresh aims to broaden its customer reach while leveraging Douyin's extensive user base.

Missfresh Limited (NASDAQ: MF) reported a remarkable 300% increase in sales of its Ready-to-Cook, Ready-to-Heat, and Ready-to-Eat (3R) products in 2021. More than 40% of its customers purchased 3R items, with a repurchase rate nearing 70% for paid members. The company has expanded its offerings to over 800 SKUs, including a premium line of over 100 SKUs. Missfresh anticipates continued growth in 2022, attributing this success to consumer demand for ready meals and extensive investments in in-house brands. The ready meals market in China is forecasted to exceed RMB 1 trillion by 2028.

Missfresh Limited (NASDAQ: MF) reported a remarkable sales growth of over 300% for its Ready-to-Cook, Ready-to-Heat, and Ready-to-Eat (3R) products in 2021 compared to 2020. The gross margin for these products exceeded 15% above the platform's average. By year-end, over 40% of customers had purchased 3R items, with a repurchase rate of nearly 70% among paid members. The company aims to enhance its offerings, targeting the burgeoning ready meals market in China, projected to surpass RMB 1 trillion in the next 6-7 years.

Missfresh Limited (NASDAQ: MF) has announced a strategic partnership with Totole, a prominent seasoning brand in China, to promote prepacked seasoning blends through joint marketing efforts in 2022. In 2021, Missfresh's sales volume for these products surged by over 30%, appealing particularly to young consumers aged 26 to 35, who represent over 50% of Missfresh's user base. The partnership aims to leverage Missfresh's integrated retail model to enhance product sales and brand reputation, with plans for new product promotions and recipe sharing expected later in the year.

Missfresh Limited (NASDAQ: MF) has signed agreements with over 20 regional supermarket chains in China, equipping more than 150 stores across 19 cities with its proprietary SaaS and AI-driven tools. This partnership enhances the shopping experience for more than four million customers by upgrading digital operations through Missfresh's Retail Cloud services. Launched in June 2021, these services aim to empower neighborhood retailers and capitalize on the growing online shopping trend, with predictions estimating the neighborhood retail cloud market to grow from RMB 207.7 billion in 2020 to RMB 2.2 trillion by 2025.

Missfresh Limited (NASDAQ: MF) has partnered with Wangjia Market Management to expand its Intelligent Fresh Market business across 20 cities in China. This initiative transforms traditional markets into digital platforms, enhancing access to quality fresh food and boosting local economies. The market size for Intelligent Fresh Markets in China is expected to surge from US$2.166 billion in 2020 to US$94.2 billion by 2025, with a penetration rate increasing from 0.4% to 14.6%. Missfresh aims to lead this digital transformation, particularly in smaller cities, supported by government initiatives.

Missfresh Limited will host a virtual investor event on December 14, 2021, at 9:00 AM Beijing Time (8:00 PM EST on December 13). Presentations will be led by the company's leadership, including Zheng Xu and Catherine Chen, discussing the company's latest developments and growth strategies. Attendees can submit questions and engage in a live Q&A. Pre-registration is required, and presentation materials will be available online post-event. Missfresh focuses on innovative retail solutions, utilizing the Distributed Mini Warehouse model for enhanced service delivery.